Do you ever feel confused or overwhelmed by the finer points of homeowners insurance?  You’re not alone.  The most familiar terms also tend to be the most commonly misunderstood.  If you want to make the most of your policy and avoid surprises in the future, it might be a good time to test your knowledge with a quick quiz.

True or False?

Let’s see how much you know about your coverage.

A deductible is the amount you will need to pay out of pocket before your coverage will kick in.

True.  Double-check the amount of your deductible so you’ll be prepared if you ever need to make a claim.

Your home is insured for market value.

Ninty Nine percent of the time this answer is False.  We insure your home for replacement basis.   Replacement is different than market value (the amount you can sell your home) and your taxable basis.  Older homes are periodically insured for Market Value.

Your homeowner insurance provides coverage for damage caused by Racoons in your attic.

True.  And bats are covered too!  However, rodents like mice and squirrels are not a covered risk.

Your homeowner insurance (Ohio) does not provide coverage for Hurricanes.

False.  Hurricane & Tornados are covered under peril wind, and wind is a covered peril in Ohio.